A Monster Token can be represented by a coin (Heads is treated as Attack Position and Tails is treated as Defense Position), a die, or other such acceptable marker. Fan-made cards are often used as markers in Tournament Duels by players.

Official Token cards are grey. All TCG Token cards are named "Token". Most Japanese and Korean Token cards from OCG Series 8 onward that correspond to specific Monster Tokens have their own names printed out, and sometimes also include ATK and DEF.[Notes 2] The first Token that did not correspond to a specific Monster Token was the "National Championship 2009 Token", which in 2009 was given to participants of United States and Canada's National Championships and participants of the European and South American Continental Championships.

During a duel, most duelists using Tokens keep them in a small pile next to their Deck, just below the Banished Zone, to keep them from getting lost or knocked off the table.

Token Monsters can be used to pay costs or for Summoning procedures, as long as the cost or Summoning procedure does not specify a destination other than the field. Token Monsters can be Tributed to Summon "Destiny HERO - Plasma", but cannot be sent to the Graveyard to Summon "Arcana Force EX - The Dark Ruler" (since "Destiny HERO - Plasma" does not specify a destination, while "Arcana Force EX - The Dark Ruler" does).

Token Monsters are always Normal Monsters and never have effects. Some Token Monsters have effects applied to them by the cards that Summon them, but these are not the effects of the Token Monsters themselves, so cannot be negated by cards like "Skill Drain".

Token Monsters can be Tributed, unless an effect prevents it. Some Token Monsters have a restriction placed on them by the card that Summoned them that prevents them from being Tributed (this is not an effect of the Token Monsters themselves, so cannot be negated by cards like "Skill Drain"). For example, "Sheep Tokens" Summoned with "Scapegoat" cannot be Tributed for a Tribute Summon (although they can be Tributed for other purposes, such as "Lava Golem" and "Ectoplasmer").